MORTGAGE RATES SINK TO RECORD LOWS

Mortgage rates slumped to record lows this week, Freddie Mac confirmed Thursday, with lenders on average offering 4.69% on a 30-year fixed-rateloan. The average rate on the 30-year loan fell from 4.75% last week, dropping below the previous record of 4.71% set in December. As recently as early April, the average was at 5.21%.